The NZD/USD pair has experienced a renewed increase, testing the crucial resistance level at 0.6290, with attempts to breach it. However, the presence of a solid barrier at this level is evident. The stochastic indicator has lost its positive momentum, exerting downward pressure on the price.
Given the current circumstances, it is advisable to adopt a wait-and-see approach until the price confirms its position in relation to the mentioned resistance level. A successful breach of this level may lead to new gains, targeting 0.6365 as the next significant station. Conversely, a consolidation below this resistance could prompt a decline, targeting 0.6190 initially.
The anticipated trading range for the present session is situated between the support at 0.6230 and the resistance at 0.6340.
Expected Trend for Today: Neutral